In The Spotlight
We are excited to announce that the March 2017 issue of the CEE Legal Matters magazine is out and on its way to subscribers around CEE and the world.
Sorainen has assisted IBS Lithuania in the process of obtaining an e-money license from the Bank of Lithuania.
Redcliffe Partners has provided legal advice to the EBRD in connection with a EUR 3.3 million financing of an Aquanova Development LLC loan facility for the construction of a small hydro power plant, Nyzhniy Bystryi, with a generation capacity of 1.7 MW, located on the Rika River in the Khust District of the Zakarpattya Region of Ukraine. Clifford Chance advised EBRD on English law aspects of the financing.
Primus has assisted Mimaki Engineering, a Japanese manufacturer of wide-format inkjet printers and cutting machines, on the acquisition of manufacturing and distribution of the Eco Balance ecosolvent ink and the distribution business of the Decojet digital printing PVC wallpaper from Lithuanian company UAB Veika. The sellers were represented by Glimstedt on the deal, which closed in March 2017.
Linklaters and Paksoy have advised Turkey’s Turkiye Sinai Kalkinma Bankasi (TSKB) on its issue of the world’s first sustainable tier two bond. The USD 300 million Fixed Rate Resettable Tier 2 Sustainable Notes will be due in 2027, with a first call date in 2022 and a coupon of 7.625%. The proceeds will be used to finance and/or refinance projects satisfying defined criteria relating to climate change mitigation and sustainable infrastructure, among others.
CMS has advised Spanish investment fund Azora Europa l on its sale of the Galleries Louvre office property in Prague to Redstone Real Estate. Squire Patton Boggs advised Redstone on the deal. The price was not disclosed.
Dentons has advised automotive parts manufacturer Motorpal on the successful implementation of a pre-pack reorganization.
Ellex Raidla has announced that Martin Kaerdi – who the firm describes as "our long-term colleague and one of the best experts of Estonian private law" – has been appointed Partner and will lead the firm’s Real Estate and Employment Practice Group.
On March 17, 2017, Mindaugas Civilka joined Tark Grunte Sutkiene in Lithuania as Partner and head of the Data Protection and Retail and Consumer Goods practice groups.
Former Kinstellar Senior Associate Gabor Gomori has joined Deloitte Legal Erdos and Partners as Head of Real Estate and former Dentons attorney Luca Bokor has joined the firm's Banking & Finance practice.
Polish real estate lawyer Janusz Dzianachowski will be promoted to Partner by Linklaters as part of its global promotions round.
The Adriatic Legal Network has announced that Bosnia & Herzegovina's Sajic and Macedonia's Pepeljugoski law firms have joined the alliance formed in June of last year by Serbia's Joksovic, Stojanovic and Partners, Slovenia's Miro Senica and Attorneys, and Croatia's Kallay and Partners law firms.
Jolanta Zarzecka-Sawicka has been promoted to Partner at FKA Furtek Komosa Aleksandrowicz, where she heads the firm's Labor Law practice.
Suppose you were a German bank lending to a Spanish debtor under a loan agreement governed by German law. Once your Spanish debtor stops paying, the bank would have to obtain a German legal judgment and would then have to enforce it in Spain.
The Hungarian Ministry of Justice has submitted to the Parliament the bill on the new International Private Law Act on 28 February 2017.
The Romanian code regulating audiovisual content has been recently amended. Among the changes, we mention the fact that minors can no longer be used in food advertising. Also, an important modification provides that the advertising of food supplements must contain the data approved by the authorities. This month’s cover article examines these changes and the broader context of these specific regulations.
In order to comply with the provisions of the new Hungarian Civil Code, limited liability companies (Kft.) shall increase the amount of their registered capital up to HUF 3 million.
Good news for all the members of the Serbia Film Commission! On 31 January, the Serbian minister of culture and information, Mr. Vladan Vukosavljević, signed the revised version of the European Convention on Cinematographic Co-production in Rotterdam. This now enables Serbia to participate in co-productions even with non-European countries.
2016 was a notable year in Russia for the extension of control over, and further clarification of, data localization requirements; establishment of a strategy for the further development of personal data legislation and an increase in attention to cybersecurity issues.
"I think that there are several developments that will affect the Polish legal market in the near future,” says Aleksander Stawicki, Senior Partner at WKB Wiercinski, Kwiecinski, Baehr in Warsaw.
CEE Legal Matters is a media partner of the “International Arbitration: Emerging Changes” conference to be held on March 17 in Kyiv. With a look ahead to the event, we have asked Oleg Alyoshin, Partner and Head of International Arbitration at Vasil Kisil & Partners, about recent trends and the future of international arbitration in Ukraine, as well as about bringing world-known international arbitration practitioners to Kyiv for a conference.
We first spoke with Pawel Stykowski, the Head of Legal at InterRisk in Poland, two years ago, in the December 2014 issue of the CEE Legal Matters. We decided to follow up with him now to see how his role and expectations have changed in that time.
On January 13th, 2017, CEELM reported that Skanska had handed over its Nordic Light office complex in Budapest to Erste Alapkezelo Zrt. We invited Gabriella Delcsev, the Legal Manager at Skanska Hungary, to describe her team's work on the divestment.